China: PMIs point to manufacturing and services improvement – Deutsche Bank
Deutsche Bank’s Early Morning Reid notes that China’s latest PMI data show a broad-based pickup in activity. The private-sector RatingDog Manufacturing PMI and official manufacturing PMI both strengthened, with the latter returning to expansion. Services and non-manufacturing indices also improved, lifting the composite PMI above 50 and signaling a more supportive backdrop for Chinese equities…
Deutsche Bank's Early Morning Reid report reveals a significant improvement in China's manufacturing and services sectors, as evidenced by the latest Purchasing Managers' Index (PMI) data. Both private-sector and official manufacturing PMIs have surged, with the latter returning to expansionary territory following two consecutive months of decline.
The services and non-manufacturing indices also showed positive growth, pushing the composite PMI above the critical 50 mark, indicating a more favorable environment for Chinese equities and economic growth. The private-sector RatingDog Manufacturing PMI climbed to 52.1 in September, up from 51.5 in August, surpassing market expectations and marking its strongest reading since April.
Meanwhile, China's official manufacturing PMI rose to 50.1 in September, up from 49.8 in August, signaling a return to expansion after a contracting spell. The official non-manufacturing PMI climbed to 50.2 in September, surpassing forecasts and further reinforcing the positive economic sentiment.
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